At Kaarva, we are building an ecosystem of financial inclusion through technology and simple
communication.
Kaarva offers a unique credit line to regular income workers at no-interest or fees but in a unique "Pay What you Like" Model.
Once a user becomes a member of Kaarva, he/she gets a monthly limit up to 30% of their monthly income (max upto 10,000 INR). Daily a user can take out up to INR 1500 and user can choose to take the money out as many times in a month as they need upto the monthly limit. The due date is the upcoming salary date by default. For all the payments made after the due date, a late fee of Rs 5 per Rs 1000 taken is charged. For example, if due amount is Rs 3000 and customer has delayed for 10 days, late fees would be 100 (base) + 15*10 = 250 Rs. Additionally 18% GST would be applicable as well.
